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Continental Partners Provides $5.8M Refinance Loan For Multifamily Property On Federal Avenue, Los Angeles

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FINANCED
$5,800,000

California

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MultiFamily25,654 SF
Financed 05/24/2023
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Property Image
FINANCED

Continental Partners Provides $5.8M Refinance Loan For Multifamily Property On Federal Avenue, Los Angeles

1433 Federal Ave Los Angeles, CA 90025, USA

See Similar Deals
MultiFamily25,654 SF
Financed 05/24/2023
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$226
Total Square Footage:25,654 SF
Transaction Type:Loan

The assets involved in this transaction are located at 1433 Federal Avenue and 1544 Granville Ave in the Los Angeles market. The multifamily property consists of 16 units totaling 25,654 square feet. The loan amount associated with these properties is $5,800,000, secured through refinancing with specific terms that include a 5-Year Fixed rate at 5.30%, 2 Years of Interest Only payments, and a Stepdown Prepayment penalty of 3,2,1%, with a Non-Recourse provision.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,800,000
  • Loan Type: Refinance
  • Loan Terms: 5 Year Fixed at 5.30% with 2 Years of IO and Stepdown Prepay of 3,2,1% with Non-Recourse
  • Address: 1433 Federal Avenue & 1544 Granville Ave
  • Market: Los Angeles
  • Units: 16
  • Square Footage: 25,654
  • Lender: Continental Partners Inc.
  • Landlord: Manijeh Kamdar
  • Broker: Brian Asheghian - Continental Partners

The individuals and firms involved in this transaction include the broker Brian Asheghian from Continental Partners, who facilitated the loan secured by the landlord Manijeh Kamdar. The refinancing was arranged through Continental Partners Inc., highlighting the collaborative effort in this real estate finance deal.

Players

Brian Asheghian
55 deals$389.7M volume(310) 922-1068
BROKER

Continental Partners
BROKERAGE

Details

FINANCED
IMAGE: Brian Asheghian DATE: 05/24/2023 ADDRESS: 1433 Federal Avenue & 1544 Granville Ave MARKET: Los Angeles ASSET TYPE: Multifamily ~ UNITS: 16 ~ SF: 25,654 LENDER: Continental Partners Inc. LANDLORD: Manijeh Kamdar BROKER: Brian Asheghian (@BAsheghian) - Continental Partners (@ContiPartners) LOAN AMOUNT: $5,800,000 LOAN TYPE: Refinance LOAN TERMS: 5 Year Fixed at 5.30% with 2 Years of IO and Stepdown Prepay of 3,2,1% with Non-Recourse

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,800,000.00

Monthly NOI$38,666.67
Monthly Debt Service$36,659.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00